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Silver price today: FXStreet data show silver gaining ground
At $52.43 per troy ounce on Monday, Silver (XAG/USD) is trading 0.93% above Friday’s $51.95, according to FXStreet data. The figures show Silver prices moving higher on Monday.
Since the start of the year, however, Silver prices have fallen by 26.24%.
Unit of measurement | Today’s Silver Price in USD |
|---|---|
Troy Ounce | 52.43 |
1 Gram | 1.69 |
Monday’s Gold/Silver ratio was 78.05, compared with 78.27 on Friday. This measure expresses how many ounces of Silver are required to match the value of one ounce of Gold.
Silver Explained
Historically a store of value and a means of exchange, Silver remains a heavily traded precious metal among investors. While Gold is more popular, traders may choose Silver for its intrinsic value, to diversify their portfolios or as a possible hedge when inflation is high. Physical holdings can take the form of coins or bars. Alternatively, investors can gain exposure through instruments such as exchange-traded funds, which track Silver’s price in international markets.
A broad range of influences can shift Silver prices. Its safe-haven status means geopolitical instability or concerns about a severe recession can push prices higher, though the effect is less pronounced than for Gold. Lower interest rates also tend to support Silver because it pays no yield. As Silver is quoted in dollars (XAG/USD), the performance of the US Dollar (USD) is another influence: a stronger Dollar tends to restrain prices, while a weaker Dollar is likely to lift them. Investment demand, recycling rates and mine supply can also shape prices, with Silver much more abundant than Gold.
With electrical conductivity among the highest of any metal, exceeding that of Copper and Gold, Silver has extensive industrial applications, notably in electronics and solar energy. A sharp increase in demand can lift prices, whereas weaker demand tends to depress them. Economic developments in the US, China and India can also generate price fluctuations. Large industrial sectors in the US and, especially, China use Silver in a variety of processes. In India, consumer demand for Silver jewellery is also an important factor in determining prices.
Given their similar standing as safe-haven assets, a rise in Gold prices is usually accompanied by gains in Silver. More broadly, Silver tends to move in line with Gold. Their relative valuations may be assessed using the Gold/Silver ratio, which measures the ounces of Silver needed to match the value of one ounce of Gold. A high reading may be interpreted by some investors as a sign that Silver is undervalued or Gold overvalued. A low reading, by contrast, might indicate that Gold is undervalued compared with Silver.
(An automation tool was used in creating this post.)
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